Wednesday, November 29, 2006

Yahoo China President Resigns

"Yahoo China President Xie Wen resigned his position after only 40 days in office, amid rumors that Yahoo headquarters disapproved of his plans to take the site in a Web 2.0 direction.

Jack Ma, chief executive of Alibaba.com, which took control of Yahoo China in October 2005, announced Mr. Xie’s departure on Monday evening."

"Chinese web site Sina.com, citing insiders close to Mr. Xie, reported that Mr. Xie and Mr. Ma made a trip to the United States in early November to meet with Yahoo founder Jerry Yang, bringing with them a plan authored by Mr. Xie that did not meet with Mr. Yang’s approval."